NR Vandana Textile Share Price Drops 5% After Flat Listing on NSE SME

Market Performance

NR Vandana Textile shares had a lukewarm debut on the NSE SME platform on June 4, opening at ₹45, the same as its IPO price. However, within hours, the stock fell 5%, hitting the lower circuit at ₹42.75.

IPO Details in Brief

• IPO Dates: May 28 to May 30
• Issue Size: ₹27.89 Crore (fresh issue of 61.98 lakh shares)
• Price Band: ₹45 per share
• Minimum Investment: ₹1,26,000 (3,000 shares per lot)
• Subscription Status: 101 times oversubscribed
  • QIB Portion: 36.54x
  • Non-Institutional Investors: 126.70x

About NR Vandana Textile

The company specializes in manufacturing and distributing cotton textile products, including:

• Sarees
• Salwar suits
• Bed sheets

IPO Proceeds Utilization

Funds raised will be used for:

• Working capital requirements
• Debt repayment
• General corporate purposes

Key Takeaways

• NR Vandana Textile shares listed flat but fell 5% soon after.
• The IPO saw strong demand and oversubscribed 101 times.

This performance highlights the volatility in SME listings.